Wacker Neuson SE: Wacker Neuson remains on growth path
Wacker Neuson SE / Key word(s): 9-month figures/Quarter Results
Wacker Neuson remains on growth path
(Munich, November 11, 2014) The Wacker Neuson Group reported a significant rise in revenue and profit for the third quarter of 2014. Sales of light and compact equipment were driven primarily by an upturn in business in North America and by the Group's broad sales platform in Europe. Reflecting its firm commitment to continued internationalization, the Wacker Neuson Group is planning its first production line for compact equipment in the US.
Strong profit in third quarter of 2014
All regions contributed to revenue growth in the third quarter of 2014. Europe reported a plus of 14 percent while the Americas and Asia-Pacific both saw revenue rise by 16 percent. "The US construction industry is clearly picking up," continues Peksaglam. "Demand is also rising among industrial firms and the energy sector in North America. This had a positive impact on the light equipment segment during the third quarter, with revenue generated from equipment such as generators, heaters, light towers and compaction equipment growing 12 percent relative to the prior-year period. This positive trend is set to continue in North America. Markets in South America, however, are likely to remain weak." The Americas region currently accounts for 24 percent of Group revenue. In line with its internationalization strategy, the Group plans to relocate the production of skid steer loaders from its facility in the Austrian town of Hörsching to its site in Menomonee Falls (near Milwaukee, Wisconsin). "In future, we will be developing and producing skid steer loaders in North America as this is the market in which we have identified the greatest sales potential. The move aligns perfectly with our strategic principle of manufacturing products 'in the region for the region'," elaborates Peksaglam. This will be the first time that the Group has manufactured compact equipment outside of Europe. The relocation will not result in any layoffs in Hörsching, as the Group will be redeploying personnel and free capacity at the site to other products.
Record figures for the first nine months of 2014
Revised earnings forecast
The company will be announcing its forecast for the coming fiscal year in March 2015, following the publication of its figures for 2014.
Table: Revenue and earnings
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About Wacker Neuson: The Wacker Neuson Group is a leading manufacturer of light and compact equipment with over 40 affiliates, 140 sales and service stations and more than 12,000 sales and service partners across the globe. The Group can trace its roots back to 1848. Wacker Neuson is the partner of choice among professional users in construction, gardening, landscaping and agriculture, as well as among municipal bodies and companies in industries such as recycling and energy. It also offers a global spare parts service. The Wacker Neuson Group includes the product brands Wacker Neuson, Kramer and Weidemann. In 2013, the Group achieved revenue of EUR 1.16 billion and employs over 4,200 people worldwide.
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|Company:||Wacker Neuson SE|
|Phone:||+49 - (0)89 - 354 02 - 0|
|Fax:||+49 - (0)89 - 354 02 - 390|
|Listed:||Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart|
|End of News||DGAP News-Service|